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Meritor

Legislation has been introduced in the U.S. House to discourage any increase in the 12% Federal Excise Tax on the purchase of heavy-duty trucks and trailers, a measure that has been discussed as one way to raise more money for highways.

For the third quarter of fiscal year 2013, Meritor posted sales of $993 million, down 11% from the same period last year. This decrease was primarily due to lower sales in North America, the company's military business and China.

Meritor is reinvigorating a 75-year-old brake manufacturing facility in Wales, complete with a state-of-the-art engineering and test center, to meet expected increased demand in North American, European and emerging commercial vehicle markets.

Meritor Senior Executive Pedro Ferro will serve as the opening keynote speaker at the University of the Aftermarket’s Heavy Duty Leadership education conference which kicks off on July 21, 2013, at Northwood University’s campus in Midland, Michigan.

Meritor has named Ivor J. Evans executive chairman of the board and interim chief executive officer and president. Evans, who has been a member of the board of directors since 2005, succeeds Charles "Chip" McClure Jr., who is departing from the company.

Meritor Inc. announced it has signed a purchase and sale agreement to sell its 50% ownership interest in Suspensys Sistemas Automotivos LTDA to its joint venture partner Randon S.A. Implementos E Participacoes.

Meritor Inc. reported financial results for its second fiscal quarter ended March 31, 2013, which included that its sales were $908 million, down $252 million or 22 percent, from the same period last year.

Fras-le announced that it began production of heavy-duty brake lining at its friction manufacturing facility in Prattville, Ala. earlier this month. This is the first time Fras-le has produced heavy-duty brake lining in the U.S.

For the fourth quarter of fiscal year 2012, Meritor posted sales of $986 million, down 19% from the same period last year due to lower sales volumes in global markets as well as weaker currency translation

Meritor Inc. announced that it has revised its reporting structure to drive efficiencies across the corporation. Going forward, the company expects to report future results under two segments: Commercial Truck and Industrial and Aftermarket and Trailer